Wrightson to invest $14 million in new fund for food and agriculture life sciences
Wrightson and Nestle to be the first investors in the fund called BioPacificVenture.
15/03/05 Wrightson plans to invest $14 million to a new international fund being established for investment in food and agriculture life sciences. Wrightson and international food giant Nestle will be the cornerstone investors in the fund, which is currently at NZ$100 million.
Wrightson’s investment would be made over approximately six years. It anticipates that the investment will have a total lifespan of 12 years.
The fund is called BioPacificVentures and is managed by Direct Capital together with AgResearch and leading life sciences venture capital manager inventages venture capital. Nestle is the largest investor in BioPacificVentures.
BioPacificVentures is the largest life sciences fund ever promoted in New Zealand.
